SEC enforcement chief steps down

The Securities and Exchange Commission’s (SEC) enforcement chief, who led the agency’s enforcement overhaul in the wake of the Madoff scandal, is stepping down. Robert Khuzami announced his plan to leave the SEC on Wednesday in a letter he sent to his staff. He said he will leave his post later this month.

Khuzami joined the SEC four years ago and was charged with restoring the enforcement department’s reputation after investigators uncovered the Ponzi scheme masterminded by high-profile investment adviser Bernie Madoff. Khuzami, whose departure was expected, was one of former SEC Chairman Mary Schapiro’s top lieutenants. Schapiro stepped down from her post at the end of last year.

Khuzami said in his note to staff that “the time has come” for him to leave. He also said he doesn’t have a new job currently line up, and he plans to take some time off.